Vehicle Protection Plans

Major Mechanical Protection (MMP) and Guaranteed Asset Protection (GAP) Plans

Major Mechanical Protection (MMP)

What is Major Mechanical Protection? It provides financial protection against the costs associated with many mechanical breakdowns that normally fall outside of the manufacturer's warranty, and/or after the warranty has expired. Most people own their vehicles far beyond the terms of the factory warranty. Without Major Mechanical Protection (MMP), you may experience costly repairs and decreased resale or trade-in value of your vehicle.

With the average family driving 18,000 to 20,000 miles per year, the vehicle may be out of manufacturer's warranty in less than two years. MMP covers the costs of many major repairs, such as the engine, transmission, drive axle, fuel delivery system, and electrical, just to name a few.

Vehicle Coverages

MMP is available in terms from 3 to 7 years and up to 100,000 miles. Deductibles range from $0 to $50 to $100. Four different plans are offered:

• Gold - Covers everything but a few excluded items
• Silver - Basic coverage for the conscientious buyer
• Silver Plus - Comprehensive stated component coverage
• Bronze - Basic coverage on the pre-owned vehicle's most important and expensive mechanical components - engine, transmission and drive axle.

New Vehicle Eligibility Guidelines

• Must have at least one month and 1,000 miles remaining on the full manufacturer's warranty
• Less than 49,000 on the odometer

Used Vehicle Eligibility Guidelines

• Vehicle cannot be more than 10 years old
• Vehicle has less than one month and 1,000 miles remaining on the full manufacturer's warranty
• MMP must be purchased within 10 days of sale

Exclusions and deductibles may apply. Click here for a quick quote.

Guaranteed Asset Protection (GAP)

What is Guaranteed Asset Protection? GAP Protection covers the difference between your loan balance and the amount your insurance policy would pay out if your vehicle were to be damaged beyond repair ("totaled") or stolen and never recovered. Your insurance policy will pay you the cash value of the vehicle, while GAP coverage is paid when the loan balance is higher than the vehicle's actual cash value paid by your insurer.

In addition, you may be eligible for $1,000 towards the financing of a replacement vehicle if the vehicle is financed through the credit union within 90 days of settlement. (For regulatory purposes, this benefit is not available to Texas members.) Protection Benefits

Protection Benefits

• Protects your credit rating
• Eliminates or reduces out of pocket expenses for the remaining loan balance after a loss settlement
• You may purchase a replacement vehicle sooner because there is little or no carry-over balance
• Maximum benefit is $50,000
• May be purchased up to 1 year from effective date of loan

Exclusions and deductibles may apply. Click here for a quick quote.

If you applied for a loan and requested information regarding MMP or GAP, we will contact you regarding your chosen coverage(s) during the loan process. If you have additional questions or would like more information, please contact a Star One Phone Representative at (866) 543-5202 or (408) 543-5202, or contact us via e-mail.